The precious metal has been trading lower today and seems to have troubles going above $1,135. Bearish charts may be regarded as the main reason for this decline, as technical bears take advantage of the price going back into the long-term bearish channel on Daily and well below the 200SMA.
It is too early to confirm whether the bearish trend will continue as prices got well above the main resistance line and stayed there for a while which means that a bull attack may be at hand.
Chart: XAUUSD D1
Thank you for the analysis i'll keep an eye.
ReplyDeleteExcellent Analysis! Thanks.
ReplyDeleteThanks for the tips, I will keep eyes on gold.
ReplyDeleteI'll keep an eye on the future.
ReplyDeleteThe trend is still bearish.
ReplyDeleteIt will likely continue to descend for now.
ReplyDeleteIt's still going lower.
ReplyDeleteGreat tip, thanks!
ReplyDeleteVery useful analysis.
ReplyDelete